The DVF Empire Expands

Diane von Furstenberg knows what women want. Now with a new head designer, a growing list of side projects, an epic social media following, and a whole new generation of women to inspire, the woman who brought us the wrapdress is just getting started

It's noon on a Monday in January, and Diane von Furstenberg is clicking through e-mails on the Mac in her palatial office atop her Meatpacking District headquarters and simultaneously offering up the meaning of life. "The most important thinggg," she purrs in a French-by-way-of-Belgium lilt that matches her trademark feline sex appeal, "is the relationship you have with yourself."

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As she says this, Von Furstenberg is facing a portrait of Von Furstenberg, bronzed and bare-shouldered, painted by the artist Zhang Huan. At triple life-size, it dominates the wall space above one of her sofas and presumably answers any follow-up questions one might have about the kind of relationship DVF has with DVF.

So far it looks as if it's working out well for all parties involved: In knowing herself, Von Furstenberg, a Manhattan social fixture with no formal design training, was able to mastermind her wrapdress, a piece of clothing that resonated so strongly with the '70s woman that it now hangs in the Smithsonian.

Yet the path to self-discovery isn't only about realizing what works; it's also about having the self-awareness to recognize what doesn't. After her company shuttered in the '80s, Von Furstenberg was able to relaunch in 1997 and come back even stronger. Today, with a retail empire worth a reported $200 million and a product list spanning sheets to shoes, her presidency of the Council of Fashion Designers of America, a stake in the High Line, a power marriage to megamogul Barry Diller, and a spot on Forbes' list of the 100 Most Powerful Women, the 65-year-old mother of two and grandmother is more relevant than ever.

When Von Furstenberg conceived of the wrapdress in 1973, she reconciled two seemingly conflicting objectives with one ingenious cut: a garment conservative enough for work (long sleeves, knee-length hem) but festive enough for after-work cocktails (come-hither neckline, form-fitting bodice). Best of all, made of cotton jersey, it cut back on dry-cleaning bills. ("Basic Dresses in Sexy Prints and Washable" enthused a New York Times headline at the time.)

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It was a concept outstanding for its sheer pragmatism, yet the woman behind it actually didn't need to be pragmatic at all: Born Diane Halfin in Brussels to a Greek mother and a Russian father, she wed Swiss aristocrat Prince Egon von Furstenberg at 22 and quickly joined the ranks of New York high society. (The couple—who had two children, son Alex and daughter Tatiana—divorced three years later.) That a princess created a dress you could pop into your Maytag is an irony not lost on Von Furstenberg, who is quick to explain, "I got into fashion in order to be the woman I wanted to become."

It's why, according to Von Furstenberg, she's woven so much of her personality into her label. The concept of personal branding might not sound so novel in an age in which celebrities' stylists' assistants get their own reality-TV spin-offs, but when Von Furstenberg starred in the ad campaign for her first collection, above the slogan "Feel Like a Woman; Wear a Dress," she was a pioneer. Yes, there were designers before her who used clothes to sell a lifestyle (Ralph Lauren) or to cultivate a celebrity persona (Halston), but Von Furstenberg was among the first to link herself with her designs so effectively that when you thought of the wrapdress, you imagined Von Furstenberg in it.

In person, Von Furstenberg is every bit the iconic personality she's cultivated over the years. Today she's wearing a mod shift from her collection and hair and makeup she did herself for her ELLE shoot earlier this morning. ("I know myself best, so I am the best person for the job," she says.) Her face looks almost exactly as it did in the pop-art portrait Andy Warhol did of her in the '70s—a phenomenon she credits not to plastic surgery (she points out she tweeted "the best facelift is a smile" earlier that day) but to twice-weekly yoga sessions. She's got a penchant for New Agey aphorisms—she manages to work in the word universe seven times during a 30-minute conversation—and delivers them with such authority that when she tells you the universe will take care of everything, you believe it.

She remains on message when discussing her ready-to-wear line, which has stayed true to her original formula of chic, accessible sportswear at a contemporary price point. In 2001, she brought on a head designer, who for the past year has been the handsome Prada and Valentino alum Yvan Mispelaere (with whom she was photographed for this shoot, along with campaign star Elisa Sednaoui). "I come to him with the woman," says Von Furstenberg of their relationship, "and he brings me the fashion."

The appointment has allowed Von Furstenberg to continue to evolve. According to a Klout.com comparison of the social media influence of designers showing at New York Fashion Week, Von Furstenberg was the highest-ranking, ahead of Michael Kors and Vera Wang. As for the Twitter-verse, "I write whatever comes to my mind," she says. For example: "Stress is toxic, love Diane"; "Take Time for Yourself!, love Diane"; and, yes, "The most important relationship you have is with yourself, love Diane."